A Two-Sector Growth Model with Endogenous Human Capital and Amenities

Wei-Bin Zhang

Interdisciplinary Description of Complex Systems - scientific journal, 2008, vol. 6, issue 2, 95-116

Abstract: This paper examines issues related to urbanization with labour migration. The main departures from the traditional approaches to dynamics of economic structures are that the paper uses an alternative approach to consumer behaviour and introduces human capital accumulation via learning by doing. The model describes dynamic interactions among agricultural and industrial production, rural and urban amenities, distribution of production factors and preferences with endogenous capital and human capital accumulation. We show that the dynamic system may have either a single or multiple equilibrium points, depending upon returns to scale in the two sectors. We also examined effects of changes in some parameters.

Keywords: two-sector model; agricultural sector; industrial sector; physical capital accumulation; human capital accumulation; rural and urban amenities (search for similar items in EconPapers)
JEL-codes: R11 R14 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:zna:indecs:v:6:y:2008:i:2:p:95-116

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